ABU DHABI: The United Arab Emirates is considering building a second nuclear power plant to meet growing demand for electricity in the oil-rich Gulf state, a government official told Reuters. The country of some 10 million people has become a proponent of nuclear power, a low-carbon energy source, as it seeks to diversify its economy … Read more
A view of the street near the Dubai Mall in Dubai, United Arab Emirates on November 29, 2023. Jakub Porzycki | Nurphoto | Getty Images DUBAI, United Arab Emirates — The Dubai Mall, one of the largest malls in the world, is set to get even bigger with a planned expansion that will cost an … Read more
The International Air Transport Association (IATA) raised its profit forecast for the airline industry in 2024 and predicts a record revenue of $996 billion. Nurphoto | Getty Images DUBAI, United Arab Emirates — The International Air Transport Association raised its profit forecast for the airline industry in 2024 and predicts revenue of $996 billion — … Read more
German carmaker Mercedes-Benz wants India’s next government to forge more free trade agreements (FTAs) and reduce trade barriers to help boost luxury car sales in one of the world’s biggest auto markets, its country head said. Prime Minister Narendra Modi, who has built a business friendly image over the last decade, is eyeing a rare … Read more
A worker lifts a gold bullion bar from a conveyor machine at the Rand Refinery plant in Germiston, South Africa, on Aug. 16. 2017. Waldo Swiegers | Bloomberg | Getty Images DUBAI, United Arab Emirates — Each year, as much as $35 billion worth of gold produced by artisanal and small-scale mining in Africa — … Read more
An Emirates Airlines plane Karim Sahib | AFP | Getty Images DUBAI, United Arab Emirates — Dubai-based carrier Emirates airline on Monday reported record annual profit of 17.2 billion dirhams ($4.7 billion) for the 2023-2024 financial year, up 63% from the year prior. The flag carrying airline of the UAE’s glitzy commercial capital has enjoyed … Read more
DUBAI, United Arab Emirates — One of Boeing’s biggest customers issued a call to action to its new management team, expressing frustration with the safety crisis facing the American planemaker and the consequent delays in order deliveries. “We’re not happy really with what’s going on, we always really wanted to see this aircraft entering the … Read more
A general view of the city skyline at sunset from Dhow Harbour on February 5, 2015 in Abu Dhabi, United Arab Emirates. Dan Kitwood | Getty Images DUBAI — Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company (ADNOC) and G42, … Read more
Digital render of the planned entrance of Dubai’s Al Maktoum International Airport, set to be the biggest in the world upon completion. Dubai Media Office DUBAI, United Arab Emirates — Dubai’s leadership approved a 128 billion dirham ($35 billion) plan to build a new passenger terminal at the emirate’s Al Maktoum International Airport, which will … Read more
JPMorgan’s calls for a “reality check” on the world’s energy transition goals and pathway is a “sensible,” the UAE’s energy minister told CNBC. “We need always, whenever we put up predictions, especially long term ones, to have a reality check,” Suhail Al Mazrouei told CNBC’s Dan Murphy in Riyadh, Saudi Arabia on the sidelines of … Read more
